CGT Clearance Certificate - Deceased Estate

I am executor for my father's estate. His house has been transferred into my name, but that is in my position as executor (a role which won't be on the title under NSW rules).

The ATO instructions for the clearance certificate are clear that I apply in my name as the trustee. What's not clear is - which TFN do I use - my personal one, or the Estate's TFN?

 

Estates

 

The deceased estate TFN, not the former deceased's TFN

If it needs to be applied for its a Trust TFN and is issued in the name Estate of the late Fred Flintstone as an example,

Apply for a TFN for business | Australian Business Register

Choose Deceased Estate

 

I did already have the Estate TFN.

To get this to work I had to put the vendor name as the Estate name (ATO application process must match the TFN name to vendor name). If I put MY name as vendor it would not work. Even though the vendor on the sale contract is me, so this doesn't really make sense to me? I get to put my name as the trustee.

I'd previously got the certificate in my own name/TFN, it came through in about an hour.

Will see how long the estate one takes!

 

7-10 days is fairly typical.

 

lucky you are the executor.

had an aunty put the public trustee as executor and they are slower than peace negotiations with north korea

 

Yes I was appointed guardian & financial manager for my Dad - it took 30 days for the PT letter telling me what I had to do to be issued. Dad passed away on day 29 ...

Oh ok thanks - when I got the last one back so fast I was surprised.

 

Always be surprised when the ATO issue anything fast. They claim to issue things "within" 28 days. Before that there is no discussion allowed

 

i love that 28 days we wont talk to you. then 28 days later when they have done jack sh**t you call and they fix the issue in 15 minutes.

 

I told the solicitor I'd applied for the new certificate - they rang ATO and got told that no, the certificate should be in my own name and my personal TFN as I am the registered owner on title! So I don't have to wait any more.

It did make me wonder why they even have trust certificates as an option? I have a vague feeling maybe trusts can be registered as owners other states (I'm in NSW).

 

LOL Its a compliance BS thing. As long as they have a TFN they dont care if its your dog. Its like tradies who are quoting Bunnings ABN.....They system just wants numbers that are valid in the box.

Trust can never be a legal owner. Only a trustee. But the trustee isnt the entity that owns the property. Thats like suggesting you will be taxed not the trust estate.

 

I had a partnership - 2 partners. Then they realised 3 partners needed...ATO said...Dont worry we can leave TFN and ABN and just change names....Imagine if KPMG did that Stamp Duty, CGT rort #1

 

Just to update - the ATO called me last Wednesday querying what I was applying for - I said I had been advised that as I was trustee, the application should be in my name & my personal TFN. ATO officer confirmed that view.

I took the opportunity to let them know their website is not clear in relation to trustees & trusts - they were already aware of that and someone is supposed to be working on it.